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EFCC arrests bank staff for ‘N34 million fraud’

The Lagos Zonal Office of the Economic and Financial Crimes Commission, EFCC, has arrested one Elizabeth Modupe Osunjuyigbe, an employee of Access Bank Plc, for an alleged fraudulent diversion of funds to the tune of over N34m (Thirty-four Million Naira). The suspect, who was arrested on Friday April 30, 2021, allegedly sent a fraudulent request sometime in January to the Branch Service Manager of Access Bank, Adeola Odeku, Lagos State, to issue a draft of the sum of N31, 330, 165. 00 (Thirty One Million, Three Hundred and Thirty Thousand, One Hundred and Sixty-five Naira) in favour of one Best Timland Nigeria Limited. Investigations revealed that the suspect allegedly forged a solicitor’s letter dated January 19, 2021 directing the bank to issue the draft in favour of Best Timland, claimi...

NAICOM: Don’t shun insurance despite inflation, harsh business environment

File Photo As businesses and individuals adopt cost reduction measures in response to rising inflation and the harsh business environment, the National Insurance Commission, NAICOM, has charged Nigerians to avoid the tendency to shun insurance of their assets. Commissioner for Insurance, Mr. Sunday Thomas, who gave the charge noted that despite the biting inflation in the country, even as people reduce the cost of expenses, this is not the best of time to reduce insurance consumption. Thomas stated this at a webinar organised by Coronation Insurance Plc in partnership with Access Bank Plc, with the theme: “Managing Business Risks at a Time of Uncertainty.” Thomas, who was represented by Mr. Taiwo Adeoye, Technical Adviser to the Commissioner for Insurance, noted that sometimes the gain in ...

Access Bank acquires Kenya’s Transnational Bank

Following its first announcement in October 2019, Access Bank Plc has announced the successful completion of the acquisition of Transnational Bank Plc, of Kenya (TNB). The Bank made this known through a statement signed by its Company Secretary, Sunday Ekwochi. “Access Bank Plc is pleased to inform the investing public and the Nigerian Stock Exchange of the Bank’s successful completion of the acquisition of Transnational Bank (Kenya) Plc. This follows the receipt of full regulatory approvals and fulfillment of all conditions precedent to completion,” the statement read. Commenting on the acquisition, Herbert Wigwe, the Group Managing Director, Access Bank PLC, said, “We are excited to make an entry into the vibrant Kenyan market. We pledge to put our customers at the forefront of everythin...

Taraba governor launches 100-bed capacity isolation centre

Gov. Darius Ishaku of Taraba on Monday launched a 100-bed capacity isolation and treatment centre at the state NYSC Orientation Camp in Jalingo. He said that the establishment of the centre was part of measures to tackle the Coronavirus (COVID-19) pandemic in Taraba. Represented by his Deputy, Haruna Manu, the governor said “there is currently no single case of COVID-19 in Taraba.” He explained that the move was, however, aimed at taking precautionary measures toward checking any spread in the event of an emergency. He commended the management of Access Bank PLC for donating beds for the centre and urged other well spirited individuals and groups to support government efforts at ensuring that the state remained COVID-19 free. Ishaku further urged the people to abide by the best global hygi...